Control Business Costs with Workforce Analytics

Workforce analytics uses software, methodology, and data to analyze how people behave in the work environment. Many corporations use workforce analytics to specialize their Human Resource Management teams and create safer, more efficient workplaces.

Workforce analytics uses software, methodology, and data to analyze how people behave in the work environment. Many corporations use workforce analytics to specialize their Human Resource Management teams and create safer, more efficient workplaces.

In the past, regular reports and spreadsheets limited the ability of managers to understand human interactions within their organization. With the advent of Big Data and powerful software, real-time information about workforce performance and events became available, helping companies to optimize every aspect of the employee experience.

The Benefits of Workforce Analytics

Workforce analytics enables companies to track and predict employee behavior. Managers can act on the data they receive to create an efficient, satisfied, and motivated workforce that produces more in a safe, conducive environment. Throughout the entire employee life cycle, analytics guides companies in the making of useful, profitable, and safe decisions.

Thanks to Big Data, workforce analytics software can immediately influence the hiring practices of any organization. Starting with the creation of job descriptions and worker roles, managers can identify and recruit the people with the best chances to succeed in their organization.

Through the use of analytics, companies can make better hiring choices and monitor the performance of employees in real time. Managers can quickly reassign workers identified as injury prone, to keep costs down and avoid litigation. Similarly, companies can use analytics to target unproductive workers for retraining or termination.

Companies also use workforce analytics to refine their organizational structure and develop talent and leadership within their organizations. Similarly, analytics can help identify current and future technology needs that can keep a business competitive.

Armed with data provided by their workforce analytics systems, companies will have an easier time documenting and justifying employment decisions, resulting in fewer worker-related legal problems.

Lawyers can use the information gained from workforce analytics to defend employers from worker related legal claims. When data exists to document proper safety procedures and fair labor relations, companies can significantly reduce their exposure to expensive regulatory fines and punitive damage awards. Analytics data, however, can also hurt employers.

In the end, companies that use workforce analytics will most likely work to create healthy, safe, and fair workplaces, knowing the benefits and risks of their software. Although workforce analytics offers surprising insight concerning the operation of a business, mistakes still happen.

When something goes wrong in a company, the availability of analytics data should motivate employers to resolve quickly worker claims and take steps to address problems identified or predicted by their software.